More console price cuts may be coming this year, say analysts

Thinking about buying an Xbox 360, PlayStation 3 or even a Wii? You might want to wait a while longer. Game industry analysts say another round of price cuts could be on the way.

On some levels it makes plenty of sense. Today’s game machines are four and five years old — historically the point at which the next generation makes its debut — but still carry pretty hefty prices, especially for mass consumers. And after last year’s disappointing sales figures, the industry could use a big rebound.

Who is Chris?

For more than 25 years, Chris Morris has covered the financial world - and explored the business side of a variety of non-traditional businesses. He has held senior management roles at CNN, Yahoo! Finance and Forbes,

In 2009, though, he made the decision to return to his writing and reporting roots, with a focus on areas he has long covered, including video games, consumer electronics, personal finance. (He continues to keep an eye on those non-traditional fields as well.)